China’s rise in solar manufacturing has been nothing short of spectacular.From less than 5% of world marketshare it has gone to more than 50% in the current quarter.Some of its companies like Trina and Yingli are the lowest cost producers of solar modules in the world today.The Europeans like Solarworld and Q-Cells which were dominant until 2 years ago have been swept aside with Q-Cells bleeding red ink . Even in wind energy , China’s growth over the last 2-3 years has been awesome with more than 100% CAGR . It has helped in growing wind turbine manufacturers through domestic content requirements.Now that these companies have sufficient technology and are able to leverage their low cost advantages , China has removed the restrictions in Jan 2010 to attack other markets. Vestas the leading European turbine manufacturer like the solar makers has fallen into the red. The only way for these companies to survive is to move their manufacturing to Asia . Ultimately the technology will also follow (Applied Materials has also move its R&D to Shanghai). Just like the semi and electronics industry,Europe will start looking like a marginal player in the global alternative energy industry. Despite strong domestic demand and policy support , the European industry has been outsmarted and outplayed by the Chinese.
China Longyuan to Spend $13 Billion to Lead Wind Power League – Bloomberg
China Longyuan Power Group Corp. plans to spend about 92 billion yuan ($13 billion) over the next five years to become the world’s No. 1 wind-power producer as global demand for clean energy increases.
The Hong Kong-listed company aims to install at least 16,000 megawatts of wind turbines in China and overseas by 2015, President Xie Changjun said in an interview after a climate conference in Beijing today.
China’s wind sector steps on the accelerator – Renewableenergymagazine
Sinovel and Goldwind, the two leading Chinese wind turbine manufacturers, have announced expansion plans, which include floatation on the stock market through Initial Public Offerings (IPO). The aim of both companies is to increase capital to construct more plants and boost sales both in China and abroad.
Dalian, the state holding company which has majority control over the shares of Sinovel, has confirmed its intention to generate 3.5 billion Yuan (approximately €0.4 billion) through an IPO of 10% of Sinovel’s shares on the Shanghai stock exchange.Meanwhile, Goldwind, licences and, since a year ago, owner of the Germany technology, vensys (used by Eozen, Enerwind amd ReGen Powetech), has confirmed to local press that it plans on floating on the Hong Kong stock exchange to generate around $36 million (€26 million) from the sale of up tom 15% of its share capital. The company explains that this is the first step to internationalise its business.
In turn, several sources report that Huangeng aims to collect €1.5 billion (€1.1 billion) from an IPO on the Hong Kong stock exchange. Huaneng will use the funds to acquire new wind farms which, one observer reports, will include 550MW in the provinces of Hebei and Gansu.
Q-Cells Declares 2009 Loss of $1.8 Billion; CEO Resigns Amidst “Huge Loss of Confidence”- Greentech Media
Leading German cell producer Q-Cells has gone from weakness after weakness over the last 12 months, and someone had to pay. As things turned out, it happened to be the man at the top. CEO Anton Milner quit his job last Thursday<, citing a "huge loss of confidence" on account of the company's terrible 2009 results. The company declared a loss of 1.36 billion Euros ($1.84 billion) for 2009, compared to a net profit of 190 Euros (about $257 million) in 2008. It would be difficult to feign surprise at the outcome: the company had cut working hours for about 80 percent of its staff in April, later laid off 500 employees in August, and slashed its 2009 sales outlook no less than three times in six months. The question, however, remains: how did the number-one cell producer in the world in 2008 (see chart) virtually bleed itself dry? What follows is an attempt to provide some answers.